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A no-down payment mortgage is a home loan that allows you to finance 100 percent of the home’s purchase price without having to put any money down at closing. Zero-down mortgages can be ...
The remaining 3%, up to $15,000, is covered by a secondary mortgage that carries no interest but must be repaid in full when the home is sold, the mortgage is paid off, or the owner refinances.For ...
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The United States Housing and Economic Recovery Act of 2008 (commonly referred to as HERA) was designed primarily to address the subprime mortgage crisis.It authorized the Federal Housing Administration to guarantee up to $300 billion in new 30-year fixed rate mortgages for subprime borrowers if lenders wrote down principal loan balances to 90 percent of current appraisal value.
The cracker home was made to withstand Florida's harsh climates, and is known today for its energy efficiency. It is prevalent in Naples and North Florida. The home also allows for additional rooms to be attached to the house if needed, forming a compound. [5] In the Key West, houses also use the Caribbean housing style.
But these features come at a cost. According to the community’s website, the homes are selling for $1.4 million to $1.9 million, compared to other new homes in the area priced for at least $600,000.
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